Exclusive: Hirose UK sees Revenues double in FY 2023 to £710K
FNG Exclusive… FNG has learned that Hirose Financial UK Ltd has seen a doubling of its Revenues in FY2023 (March 31 fiscal year-end), from £348,627 in 2022 to £710,084 in 2023. However that follows a year in which Revenues fell by 50% at Hirose UK, so the company is basically back to the level of business it was doing in 2021.
The company turned a profit of £295,298 in 2023, up from £59,039 the previous year.
Despite the increase in activity, Hirose UK saw client deposits fall during the year, to £925,481 as at 31.03.2023 versus £1,995,914 as at the end of FY2022.
The principal activity of Hirose Financial UK Ltd is as an online provider of retail foreign exchange trading and related services. It offers trading on MT4 and LION Trader. The company said in the filing that it operates in a “very competitive market”, and that it will continue to seek more opportunities in the B2B market, acquiring more professional traders.
Hirose UK is the FCA regulated arm of Hirose Tusyo Inc (TYO:7185), an Osaka, Japan based Retail FX broker doing about $200 billion in monthly trading volumes.